Today is the second trading day of daylight saving time. Gold opened around 5147, which is about ten dollars higher than yesterday’s Monday close at 5136. The highest reached was around 5173, and the lowest retraced to around 5117. The market has shifted to a bullish pattern, with the bulls still brewing. It is a bottoming and rebound market. Today’s market shows a continued bullish demand.

Looking at the gold chart, yesterday the price found support at around 5015 USD, showing a needle bottom pattern. The short-term rebound momentum is moderate, but the resistance above 5200 USD is significant, making it difficult to break through strongly in the short term. The 4-hour indicators are gradually recovering, showing a range-bound oscillation overall. After a series of narrow fluctuations on smaller timeframes, the technical pattern is also beginning to adjust gradually. The short-term trend tends to maintain a slightly stronger oscillation. Short-term support is around 5120, followed by the 5100 level. Today’s focus is on defending around 5080.

Trading suggestions: Go long near 5130-5120, buy in batches, stop loss 20 points, target 5180/5200.

Risk warning: Investment involves risks. Enter the market cautiously. The above content is for personal ideas and opinions only and does not constitute trading advice.